KLP Kapitalforvaltning AS Buys New Shares in Frontdoor, Inc. (NASDAQ:FTDR)

KLP Kapitalforvaltning AS purchased a new position in shares of Frontdoor, Inc. (NASDAQ:FTDR - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 33,500 shares of the company's stock, valued at approximately $1,831,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Natixis Advisors LLC raised its position in Frontdoor by 13.3% during the third quarter. Natixis Advisors LLC now owns 17,213 shares of the company's stock worth $826,000 after acquiring an additional 2,023 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Frontdoor by 157.6% during the 3rd quarter. Intech Investment Management LLC now owns 21,697 shares of the company's stock worth $1,041,000 after purchasing an additional 13,275 shares during the last quarter. Citigroup Inc. lifted its stake in Frontdoor by 3.3% in the 3rd quarter. Citigroup Inc. now owns 136,826 shares of the company's stock valued at $6,566,000 after buying an additional 4,369 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Frontdoor by 15.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 179,858 shares of the company's stock valued at $8,631,000 after buying an additional 23,922 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in Frontdoor by 146.6% during the third quarter. Bridgewater Associates LP now owns 63,721 shares of the company's stock worth $3,058,000 after buying an additional 37,881 shares in the last quarter.

Frontdoor Trading Up 2.3 %

Shares of FTDR stock traded up $0.88 during mid-day trading on Tuesday, hitting $39.30. 742,570 shares of the company's stock were exchanged, compared to its average volume of 710,262. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 13.01 and a beta of 1.18. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.16. Frontdoor, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $63.49. The stock has a 50-day simple moving average of $49.60 and a two-hundred day simple moving average of $52.41.

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Analysts Set New Price Targets

Several analysts have recently issued reports on FTDR shares. The Goldman Sachs Group reduced their price objective on Frontdoor from $46.00 to $40.00 and set a "sell" rating on the stock in a research report on Monday, March 3rd. Truist Financial upped their target price on shares of Frontdoor from $58.00 to $67.00 and gave the company a "buy" rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Frontdoor presently has an average rating of "Hold" and an average price target of $50.25.

Frontdoor Profile

Frontdoor, Inc provides home warranties in the United States in the United States. Its customizable home warranties help customers protect and maintain their homes from costly and unplanned breakdowns of essential home systems and appliances. The company's home warranty customers subscribe to an annual service plan agreement that covers the repair or replacement of principal components of approximately 20 home systems and appliances, including electrical, plumbing, water heaters, refrigerators, dishwashers, and ranges/ovens/cooktops, as well as electronics, pools, and spas and pumps; and heating, ventilation, and air conditioning systems.